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+EXHIBIT 1.2 Long Intel call vs. long Intel stock.
+The thin dotted line represents owning 100 shares of Intel at $22.25.
+Profits are unlimited, but the risk is substantial—the stock can go to zero.
+Herein lies the trade-off. The long call has unlimited profit potential with
+limited risk. Whenever an option is purchased, the most that can be lost is
+the premium paid for the option. But the benefit of reduced risk comes at a
+cost. If the stock is above the strike at expiration, the call will always
+underperform the stock by the amount of the premium.
+Because of this trade-off, conservative traders will sometimes buy a call
+rather than the associated stock and sometimes buy the stock rather than the
+call. Buying a call can be considered more conservative when the volatility
+of the stock is expected to rise. Traders are willing to risk a comparatively
+small premium when a large price decline is feared possible. Instead, in an
+interest-bearing vehicle, they harbor the capital that would otherwise have
+been used to purchase the stock. The cost of this protection is acceptable to
+the trader if high-enough price advances are anticipated. In terms of
+percentage, much higher returns and losses are possible with the long call.
+If the stock is trading at $27 at expiration, as the trader in this example
+expected, the trader reaps a 429 percent profit on the $0.85 investment